The 10 Worst Cities for Renters

After the housing bubble burst, thousands of families found themselves saddled with underwater mortgages, peak interest rates and a serious shortage of qualified buyers. For the first time in several generations, renting seemed like a welcome alternative for struggling homeowners.

But depending on where and how you're living, renting can be just as -- if not more expensive -- than owning.

By finding cities with the highest percentage of tenants spending more than half their income on rent, Bloomberg Businessweek identified the 10 worst cities for renters –- and it isn't the lineup of usual suspects.

Among the unlikely cities named are Akron, Orlando and McAllen, Texas -- and the tide may be turning for renters in other parts of the nation, as well. As we reported earlier this month, one survey found that it's cheaper to buy than rent in 80 percent of 50 major markets.

Additionally, home values are down 32 percent from their peak in May 2006, according to the S&P/Case-Shiller Index. While the news may make current homeowners cringe, it also means a lower barrier to entry for new buyers –- provided that they don't intend to sell anytime soon.

Of course, buying is easier said than done for Americans with less than sterling credit; either they can't qualify for a loan, or are unable to make higher-down-payment requirements.

But in cases in which consumers have a real choice and are in no rush to sell, buying is more attractive today than it has been in several years.

Want to know how to deal with other rental issues? Here are some AOL Real Estateguides that can help: